Australian data in focus

August 16, 2018

Another day full of significant data release from around the world, with markets looking locally today.

The EUR/USD flirted with $1.12 after opening at $1.13421. The pair remained rather flat in early session trading then began its decline mid-session, falling to $1.13004 before rebounding. The pair rallied for the next few hours to reach a high of $1.13540. It has come of those highs and is currently trading at $1.13409. The GBP/USD fared a little worse than the euro after opening at $1.27150. The pair remained steady in early trading while still managing to climb to a high of $1.27345. That high was short lived as the decline set in, hitting a low of $1.26603 a few hours later. It bounced off those lows and is currently trading at $1.26914.

The Dow underperformed once again, despite a late rally. The index opened at 25,312.91 and reached a high of 25,320.47 a short time later before turning negative. The Dow then tumbled over the next several hours to bottom-out at 24,967.74. It mounted a spirited rally, erasing some of those losses and is currently trading at 25,175.80. The Dax again struggled, weighed down by uncertainty in Turkey and an underperforming Dow. The German index opened at 12,383.92 and peaked at 12,429.20 a short time later. It was downhill from that point as the Dax sunk to a low of 12,111.10. It bounced off those lows to close at 12,185.70.

The day ahead is full of data being published from around the world, with markets focussing on Employment Change & Unemployment Rate figures from Australia. These figures are vital in an economy that still shows some signs of weakness, particularly around employment. Other data set for publication include:

UK – Retail Sales, CB Leading Index

Australia – MI Inflation Expectations

Europe – Trade Balance, German WPI

NZ – PPI Input & Output

Canada – Manufacturing Sales, ADP Non-Farm Employment Change

US – Building Permits, Housing Starts, Philly Fed Manufacturing Index, Unemployment Claims, Natural Gas Storage

 

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